Boots $6 Billion Pension Deal Paves the Way for Future Sale

Walgreens Boots Alliance Inc.’s international unit Boots is transferring its $6 billion (£4.8 billion) pension plan to a financial services company, a deal that could pave the way for a sale of the pharmacy chain.

The buy-in deal with UK-based Legal & General insures all 53,000 members in the Boots Pension Scheme, the company said in a release Friday.

In recent years, Walgreens distanced itself from its retail roots to focus on its health care offerings. In 2021 the company tried to sell Boots, which mostly operates retail pharmacies in the UK. It hoped to bring in some $6 ...